Ann: December 2010 Quarterly Report , page-7

Don't trust this company. What happens when the free milling high grade golden age ore runs out? they are still only producing 80,000 ounces even with the golden age deposit, when they are back to 100% refractory ore they will be in big trouble again.

They are very good at creative accounting, they only have 1 million in the bank yet if they have produced 20,000 ounces with almost $500 margin where is the money??

$1m in the bank and a small problem at the mill and they are close to cactus again, this mob are still hanging on by their finger nails and the share price is reflecting that.

Im not denying there could be big gains to be made if AXM pull it off, but going on past experience ( and i was a holder for many years and lost plenty) they have a problem with the truth. I remember when they used to keep bleating how much gold was being produced but never mention how much was being poured, when i drilled down in to it i find there was a huge discrepancy between gold produced and actual gold poured. They have a history of embellishing things and using weasel words, reading an Apex report means you have to dismantle every section and analyse it like you would a politicians speech.

Be careful, be very careful.